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Russia’s budget deficit preliminarily totals $36.4 bln in 2023 — finance ministry

According to the satement, stable positive dynamics is registered on key non-oil and gas revenues received both by the federal budget and the budget system overall

MOSCOW, January 11. /TASS/. Russia’s federal budget deficit in 2023 amounted to 3.24 trillion rubles ($36.4 bln), according to preliminary figures provided by the Finance Ministry.

"According to preliminary estimates, federal budget revenues in 2023 amounted to 29.123 trillion rubles, which is 4.7% higher than the volume of revenues received in 2022. Meanwhile, stable positive dynamics is registered on key non-oil and gas revenues received both by the federal budget and the budget system overall," the ministry said in a statement.

Preliminarily, federal budget expenditures totaled 32.364 trillion rubles ($364 bln) in 2023, up by 4% compared with the previous year.

Russia’s federal budget deficit amounted to 878 bln rubles ($9.8 bln) in 11 months, according to figures released earlier by the ministry.

The dynamics of the flow of revenue and financing of expenditures in January-December 2023 highlights execution of the federal budget in accordance with the targeted parameters of structural balance approved by the law on the budget, the ministry noted. "Overall, the volume of federal budget expenditures was executed in 2023 in reliance on the ceiling amount of budget provisions approved by the law on the budget and the amount of additional non-oil and gas revenues (in accordance with the fiscal rule norms). This ensured the stability of primary structural deficit at the level of parameters of the law on the budget," the ministry said.

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